N.Y. Banking Law Section 27
Exchange and examination of securities

1.

Any corporation, unincorporated association, partnership or individual which shall have deposited with the superintendent in trust any stocks or bonds in pursuance of any requirement of this chapter, may be permitted by the superintendent, so long as it shall continue business in the ordinary course, from time to time to withdraw any of such stocks or bonds upon depositing with the superintendent other stocks or bonds of the kind it is required by this chapter to deposit with him and if the value of the stocks or bonds so held by the superintendent exceeds the amount required by this chapter to be so deposited, the stocks or bonds in excess of such amount may be withdrawn without depositing others in exchange therefor.

2.

Any such corporation, unincorporated association, partnership or individual may, at any time during ordinary business hours, examine such stocks or bonds and compare them with the record on the books of the department. Unless it shall deliver to the superintendent at least once in each calendar year, a statement listing such stocks or bonds and the amounts thereof, and stating that they are in the custody and possession of the superintendent at the date of the statement, the state comptroller and the superintendent shall appoint some suitable and discreet person as agent for such corporation, unincorporated association, partnership or individual, who shall make an examination of such stocks or bonds. If such agent finds that the stocks or bonds held by the superintendent agree with the records thereof on the books of the department, he shall execute a statement in the form above described and transmit a copy thereof to the corporation, unincorporated association, partnership or individual in behalf of which it is made, and such statement shall have the same force and effect as if executed by such corporation, unincorporated association, partnership or individual. Compensation for the services and expenses of such agent in making such examination shall be paid as a general expense of the department.

Source: Section 27 — Exchange and examination of securities, https://www.­nysenate.­gov/legislation/laws/BNK/27 (updated Sep. 22, 2014; accessed Apr. 20, 2024).

10
Declaration of policy 11
Department of financial services 12‑A
Power of state chartered banking institutions to exercise the rights of counterpart federally chartered banking institutions 14
Additional powers of the superintendent 14‑A
Rate of interest 14‑B
Power of the superintendent of financial services to prescribe minimum rate of interest on mortgage escrow accounts 14‑C
Power of the superintendent of financial services to prescribe criteria for disclosure of information on savings and time accounts 14‑D
Power of the superintendent of financial services to prescribe a reasonable period of time permitting the drawing on items received for d... 14‑E
Power of the superintendent to authorize the operation of savings banks and savings and loan associations in stock form 14‑F
Power of the superintendent of financial services to require the provision of basic banking services 18
Fees for copies and certifications 18‑A
Application fees 18‑B
Holocaust reparations payment fees 19
Assessments for deficiency in reserves against deposits 20
Assessments, penalties and forfeitures entitled to priority 21
Collection of assessments, penalties and forfeitures 22
Fingerprints 23
Acceptance or rejection of certificate 24
Investigation by superintendent 25
Authorization certificate 25‑A
Authority of superintendent to file organization certificate and issue authorization certificate under certain conditions 26
Licenses to foreign banking corporations 27
Exchange and examination of securities 28
Change of location 28‑A
Temporary change of location 28‑B
Credit needs of local communities 28‑BB
Credit needs of local communities 28‑C
Branch office closings 29
Branch offices 30
Unclaimed amounts 31
Index of persons entitled to unclaimed amounts 32
Insurance of deposits and share accounts 33
Reserve depositaries 34
Superintendent as attorney to accept service of process 36
Examinations 36‑A
Reports of lending by banking organizations 36‑B
Preservation of books and records 37
Reports to superintendent 37‑A
Submission of annual reports by the Holocaust claims processing office 38
Power of subpoena 39
Orders of superintendent 40
Revocation of authorization certificate or license or suspension of activities in certain cases 41
Removal of director, trustee or officer 42
Official acts of superintendent and details of department business to be made public 44
Violations 44‑A
Violations and penalties 45
Export finance awareness program
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Accessed:
Apr. 20, 2024

Last modified:
Sep. 22, 2014

§ 27’s source at nysenate​.gov

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